R.I.P. BitConnect

[ttmschine]

Apparently in the US it's illegal to promote or profit from a Ponzi so I guess they could all be in deeeeeeep sshhheeeeeeeeeeet:

https://www.thetaxadviser.com/issues/2012/oct/clinic-story-08.html

 

[Parrotae]

oooooops btc is still coming back

 

[waterworks]

By that article, it sounds like any investor who made anything off of Bitconnect would have to pay it back. This lawsuit is going to be quite the mess.

 

[ttmschine]

By that article, it sounds like any investor who made anything off of Bitconnect would have to pay it back. This lawsuit is going to be quite the mess.

That's what I took from it too - anyone who took any money out of it will have to pay it back so it can be shared among everyone - meaning everyone loses except the disappearing founders who have all of the money lol.

 

[feezioxiii]

oooooops btc is still coming back

Nope, it's not lol

 

[hairball]

BEEEEEEEETKONNNNNECTTTTT!!!!!!!

 

[Parrotae]

now its going up now $8,111

 

[1spy2life]

It's quite incredible the level of market cap and funding they raised before actually crashing, for such an obvious scam.

 

[IamNRE]

HODL ?

https://coinmarketcap.com/currencies/bitconnect/

 

[iKILO-G]

Anything forcing you to lock your money in for 90 days has scam written all over it I feel sorry for some of the ppl who were looking to make some money and lost everything but hey you wanna play you gotta pay.

 

[waterworks]

Anything forcing you to lock your money in for 90 days has scam written all over it.

Within the crypto world, yes. Within the banking world, CD's, IRAs, and other types of investments also demand you lock your money in or pay heavy penalties for early withdrawal. But bankers are as dirty as they come. The difference is it's legal for them to do the things they do.

 

[iKILO-G]

Within the crypto world, yes. Within the banking world, CD's, IRAs, and other types of investments also demand you lock your money in or pay heavy penalties for early withdrawal. But bankers are as dirty as they come. The difference is it's legal for them to do the things they do.

You are 100% correct, I should've specified "crypto" the banking industry didn't even cross my mind but yes bankers are as dirty as they come how ever there are laws that protect individuals from certain things. In crypto its more of a "you make your bed lie in it" attitude.

 

[WTF.BRO?]

Anything forcing you to lock your money in for 90 days has scam written all over it I feel sorry for some of the ppl who were looking to make some money and lost everything but hey you wanna play you gotta pay.

What is this Logic??
So bitcoin is Scam? lot of ppl bought BTC in SEPTEMBER 2017 at $19k- $20k, and until now BTC is Under $20K, so with your logic all crypto currency are Scam, YOU WRONG. HAHA. you need to learn lot of more about BTC.